HomeFinance NewsDollar falls as yields decline toward week's end

Dollar falls as yields decline toward week’s end

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The dollar is starting off the European trading session lower, while bond yields are retreating. 10-year Treasury yields have dropped by 4.6 bps to 4.550%, and in Europe, 10-year German bund yields have fallen by 9.4 bps to 2.873%. The drop in bond yields may be attributed to a softer French inflation report and potential month-end and quarter-end flows. As a result, traders are relying on technical indicators to navigate the market. EUR/USD has surged over 0.3% and surpassed its 100-hour moving average, causing the near-term bias to become more neutral. However, the presence of large option expiries at key levels could keep price action near those levels.

In addition, GBP/USD is also up 0.4% and is following a similar pattern to EUR/USD. On the other hand, USD/JPY has dipped below 149.00 to 148.65, recording a 0.4% decrease for the day. Furthermore, the antipodeans, like AUD/USD, are experiencing the biggest gains due to an improved risk sentiment. AUD/USD is up 0.9% to 0.6480, but it is facing strong resistance at the 0.6500 level at the moment. Overall, the dollar’s performance is being influenced by various factors such as bond yields, technical indicators, and market sentiment.

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